Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BUDAPEST, May 16 (Xinhua) — Chinese investment has become an “indispensable engine” of Hungary’s economic growth, Prime Minister Viktor Orban said Thursday.
He made the remarks at a press conference here, where he also announced the decision of leading Chinese electric vehicle maker BYD to locate the headquarters of its European subsidiary and a new research and development centre in Budapest.
“We are living in an era of transformation,” said Orbán. “New technologies, new consumer demands and new producers have emerged. And we, Hungarians, do not want to be left out of this new era. That is why we have made a strategic decision: Hungarian industry must enter the era of electric vehicles.”
V. Orban noted that Hungary cannot enter the new technological era alone. “We need partners. And we can enter this new era only with Chinese-Hungarian strategic cooperation, because China is the leader in technology in this industry,” the Hungarian Prime Minister added.
He also stressed the importance of the country’s “connectivity strategy.” “Hungary aims to become a meeting point for Eastern and Western capital, trade and innovation,” he said.
Hungary’s trade has doubled in the last decade, and China has consistently ranked among the country’s top three investors. “In some years, China has even been Hungary’s number one investor,” Orban said. “This means that Chinese investment has become an important, even indispensable, engine of the country’s economic growth.”
The Prime Minister also noted major infrastructure projects being implemented with China’s support, such as the Budapest-Belgrade railway. “China plays a decisive role in financing Hungary’s modernization,” Orbán emphasized. –0–